“49% of respondents believe now is a good time to buy, down from 56% last quarte…”

“60% cite low inventory as a primary reason not to buy this year, down from 63% last quarter…”

“64% of all respondents had said they would be “disciplined” in a bidding war, paying only a little more…”

So buyer interest is waning, with low inventory being a probable cause, yet most would still pay over asking. This is why predictions are so useless.

You can’t define “on fire”, because it is emotive and belongs to world of hyperbole. The only important thing to understand is low rates and inventory are driving this, which does not make it a good time to buy, but most don’t realize that.